Internationalization and International Business Strategies: A Review of Literature

Abstract

Since the 1980s globalization has been one of the most important phenomenon in marketing. Marketing literature suggests that formulation and execution of appropriate strategies are very much required in order to survive, grow and to be competitive in the international market places which are highly competitive nowadays; however literature detailing with international business is scarce. This study thus endeavors to fill the gap by integrating different aspects of internationalization/globalization. This study is the outcome of an in depth analysis of different aspects of international business. A good number of books/past research studies between the years 1972 to 2016 are reviewed in order to prepare this literature review and to explore different aspects of international business. The study points out that marketers need to take appropriate decisions on which market(s)/segments to be served, what entry modes to use and how to formulate and implement appropriate marketing strategies so that they can capture market share and/or establish strong foothold in foreign/host countries. The study suggests marketing practitioners some guidelines to formulate right strategies in international marketplaces and extends a direction for new research specifically in the context of developing countries like Bangladesh.